In vehicle insurance, insurance providers generally seek to determine an insurance policy premium for a vehicle based on the risk of losses associated with the condition of the vehicle. For purposes of making this determination, it is well understood that various vehicle conditions can influence the probability that the vehicle will experience a loss that is recognizable under the policy. For example, mileage accrued on the vehicle can affect the overall operating condition of the vehicle. As such, vehicles with less mileage or that are driven less generally have a lower risk of loss, and therefore may be offered lower premiums for a given level of coverage. Conversely, vehicles with high mileage or that are driven often correspond to a higher risk of loss, and therefore may be offered higher premiums for the same level of coverage.
Currently, insurance providers have limited or inadequate access to information regarding vehicle condition. Most of the information is gathered through questionnaires provided to prospective policy holders who own or operate the vehicle. However, responses obtained from the questionnaires may not always be accurate or complete. Thus, the determined insurance policy premium for the vehicle may be poorly correlated with the actual risk of losses associated with the conditions of the vehicle.